Asian Paints shares gain 25% from 52-week low, fresh price targets and more
Asian Paints stock slipped to a 52 week low of Rs 2116 on March 23, 2026. However, the stock seems to have recovered after the selloff this year
- Jun 1, 2026,
- Updated Jun 1, 2026 3:43 PM IST
Shares of Asian Paints, which surged over 21% in 2025, have fallen 53% from their 52-week high. The paints stock hit a 52-week high of Rs 2985.50 on December 4, 2025. The stock slipped to 52 week low of Rs 2116 on March 23, 2026. However, the stock seems to have recovered after the selloff this year. It has surged 25% from the 52-week low till date.
The company last week declared Q4 earnings, which beat estimates. The company reported a strong performance in the March 2026 quarter, with consolidated net profit surging 69.3% year-on-year to Rs 1,172.1 crore. Revenue growth remained steady as net sales rose 10.8% from a year earlier to Rs 9,228.5 crore.
Operationally, the company also posted robust gains, with profit before exceptional items and tax rising 33.9% year-on-year to Rs 1,614.1 crore during the quarter.
Reflecting confidence in its financial position and cash generation, the board declared a final dividend of Rs 23 per share for FY26. Including the interim dividend paid earlier in the year, the company's total dividend payout for FY26 stands at Rs 27.50 per share.
Brokerage Systematix assigned a target price of Rs 3105 on the paints stock.
The brokerage said management highlighted improving demand trends (double-digit growth sustaining in each month of 4Q26) have sustained over April-May across rural and urban markets; Asian Paints expects volume growth at 8-10% YoY in the next few quarters despite pricing actions.
The leading paints major also expects improving mix to lead to a narrower value-volume gap of 3-4% going forward (vs prior guidance of 4-5%). However, competitive intensity (reflected in discounting) remains elevated, with no let-up seen in FY27.
"We maintain BUY rating on APNT, roll forward valuation to March-2028E (from December-2027E) and value the stock at a P/E of 53x (in-line with its current one-year forward multiple), resulting in a revised TP of Rs 3,105 (vs Rs 3,160 earlier)," said the brokerage.
ICICI Direct has a price target of Rs 3055 with an upside of 14% in a year.
"The company has undertaken price hike of 10-11% to mitigate the impact of 20% increase in the raw material prices. This along with cost saving measures and backward integration benefits will help to keep EBIDTA margins in the range of 18-20% in FY27. With competitive intensity stabilising, we expect Asian Paints to achieve double digit earnings growth in the stable macro and input cost environment," said ICICIDirect.
Global brokerage Nomura reiterated its buy rating on the paints stock with a target price of Rs 3,600 per share. According to Nomura, Asian Paints delivered a stronger-than-expected performance during the quarter, surpassing estimates on revenue growth, volume expansion and operating margins. The brokerage also noted an improvement in the company's outlook for product mix, indicating a favourable shift toward higher-value offerings.
Nomura believes that the intensity of competitive pressures in the paints industry may have reached its peak, creating a more supportive environment for market leaders. With improving business fundamentals and a healthier industry backdrop, the brokerage expects Asian Paints to sustain robust earnings growth over the coming years.
The brokerage forecasts the company to clock a compound annual growth rate (CAGR) of 13% in earnings between FY26 and FY29.
FAQs
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Why is Asian Paints stock in focus after its recent fall from the 52-week high?
Asian Paints shares are in focus because the stock has recovered around 25% from its 52-week low after a sharp correction from the peak. Investors are also reacting to the company’s strong Q4 FY26 earnings and positive brokerage commentary.
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How did Asian Paints perform in Q4 FY26?
Asian Paints reported a strong March 2026 quarter. Consolidated net profit rose 69.3% year-on-year to Rs 1,172.1 crore, while net sales increased 10.8% to Rs 9,228.5 crore. Profit before exceptional items and tax also climbed 33.9% to Rs 1,614.1 crore.
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What dividend has Asian Paints announced for FY26?
The board announced a final dividend of Rs 23 per share for FY26. Including the interim dividend already paid, the total dividend payout for FY26 stands at Rs 27.50 per share.
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What are the target prices given by brokerages for Asian Paints stock?
Systematix has given a target price of Rs 3,105, ICICI Direct has set a target of Rs 3,055, and Nomura has the highest target at Rs 3,600 per share. All three brokerages have maintained a positive view on the stock.
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What is the outlook for Asian Paints in FY27 and beyond?
The outlook remains positive, supported by improving demand across rural and urban markets, expected volume growth of 8-10%, and better product mix. Brokerages believe margins may stay in the 18-20% range in FY27, while Nomura expects earnings CAGR of 13% between FY26 and FY29.
Shares of Asian Paints, which surged over 21% in 2025, have fallen 53% from their 52-week high. The paints stock hit a 52-week high of Rs 2985.50 on December 4, 2025. The stock slipped to 52 week low of Rs 2116 on March 23, 2026. However, the stock seems to have recovered after the selloff this year. It has surged 25% from the 52-week low till date.
The company last week declared Q4 earnings, which beat estimates. The company reported a strong performance in the March 2026 quarter, with consolidated net profit surging 69.3% year-on-year to Rs 1,172.1 crore. Revenue growth remained steady as net sales rose 10.8% from a year earlier to Rs 9,228.5 crore.
Operationally, the company also posted robust gains, with profit before exceptional items and tax rising 33.9% year-on-year to Rs 1,614.1 crore during the quarter.
Reflecting confidence in its financial position and cash generation, the board declared a final dividend of Rs 23 per share for FY26. Including the interim dividend paid earlier in the year, the company's total dividend payout for FY26 stands at Rs 27.50 per share.
Brokerage Systematix assigned a target price of Rs 3105 on the paints stock.
The brokerage said management highlighted improving demand trends (double-digit growth sustaining in each month of 4Q26) have sustained over April-May across rural and urban markets; Asian Paints expects volume growth at 8-10% YoY in the next few quarters despite pricing actions.
The leading paints major also expects improving mix to lead to a narrower value-volume gap of 3-4% going forward (vs prior guidance of 4-5%). However, competitive intensity (reflected in discounting) remains elevated, with no let-up seen in FY27.
"We maintain BUY rating on APNT, roll forward valuation to March-2028E (from December-2027E) and value the stock at a P/E of 53x (in-line with its current one-year forward multiple), resulting in a revised TP of Rs 3,105 (vs Rs 3,160 earlier)," said the brokerage.
ICICI Direct has a price target of Rs 3055 with an upside of 14% in a year.
"The company has undertaken price hike of 10-11% to mitigate the impact of 20% increase in the raw material prices. This along with cost saving measures and backward integration benefits will help to keep EBIDTA margins in the range of 18-20% in FY27. With competitive intensity stabilising, we expect Asian Paints to achieve double digit earnings growth in the stable macro and input cost environment," said ICICIDirect.
Global brokerage Nomura reiterated its buy rating on the paints stock with a target price of Rs 3,600 per share. According to Nomura, Asian Paints delivered a stronger-than-expected performance during the quarter, surpassing estimates on revenue growth, volume expansion and operating margins. The brokerage also noted an improvement in the company's outlook for product mix, indicating a favourable shift toward higher-value offerings.
Nomura believes that the intensity of competitive pressures in the paints industry may have reached its peak, creating a more supportive environment for market leaders. With improving business fundamentals and a healthier industry backdrop, the brokerage expects Asian Paints to sustain robust earnings growth over the coming years.
The brokerage forecasts the company to clock a compound annual growth rate (CAGR) of 13% in earnings between FY26 and FY29.